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Black economic empowerment was one of the measures intended to address the racialised inequality in South Africa (Reuters)

South Africa’s transformation drive under scrutiny as JSE black ownership remains low 

There were replacement transactions at Old Mutual and Absa, with FirstRand, Sanlam and Capitec retaining black ownership. But Standard Bank and Nedbank have less than 1% black…

Due diligence: The Mpati Commission found that the PIC had not always adhered to sound policies, processes and frameworks. Photo: Screenshot

Hunt on for PIC’s lost billions

Despite asset growth to R3.7 trillion, questions persist over distressed loans and legacy investment scandals

The Government Employees Pension Fund said on Tuesday that it had temporarily suspended the submission of withdrawal applications from the two-pot retirement system for its members from 7 October to 21 October to allow for a system update.

Two-pot withdrawal system temporarily suspended for Government Employees Pension Fund

The fund said its system was undergoing an update and would be offline until 21 October

At stake: Tongaat Hulett employs 40  000 people on its farms in KwaZulu-Natal (above) and Mpumalanga and 65 000 more in Botswana, Mozambique and Zimbabwe. (Delwyn Verasamy/M&G)

Robert Gumede’s Tongaat Hulett purchase hinges on R2bn PIC loan

The agreement will give Terris Sugar discounted ownership of Tongaat Hulett’s R8 billion bank debt and control at the upcoming creditors’ vote

The African Development Bank (AfDB) says South Africa’s well-developed financial sector has the potential to be the continent’s powerhouse.

The Fiscal Cliff | Is South Africa nearing a debt crisis?

The real issue is that the February 2023 budget was the least credible assessment of the country’s finances since 1994

Digital Technologies Minister Mondli Gungubele

Gungubele: Government won’t sell its stake in Telkom

The communications minister said the telecommunications company was still strategic to the state’s programme

Telkom shares soar as Sipho Maseko’s acquisition bid confirmed

The former chief executive is credited with saving the company by making inroads into the mobile market

According to media reports, a deal has been struck outside court between the Public Investment Corporation (PIC) and Iqbal Survey’s company AYO Technology. (Gallo Images / Foto24 / Lerato Maduna)

PIC settlement: Pension fund must work for society, not a tiny elite

The AYO affair shows the GEPF should stop backing the ANC’s destructive BEE project, pull out of the stock market and support the public sector instead

Like a candle in the wind: Eskom has turned 100 but it’s lights are hardly blazing. Photo: Getty Images

Is reticent Ramaphosa ready to reshuffle?

DD the Cat, like André de Donker, has finally got his Don’t Come Monday – which both of them had been waiting for

Police have cut water and food supplies to the miners, insisting that they will not negotiate with ‘criminals

Do criminal syndicates operate in SAPS management?

Dismissed employees’ experiences suggest that there are illegal money-making activities within the police service

Seeing red: SA Federation of Trade Union members protest the high cost of living and unemployment, among other issues.
Photo: Delwyn Verasamy

Dear SA, halt suicidal policies lest we become an economic wasteland

The government must invest in its people and infrastructure to stimulate the economy

After 14 years of blackouts, the president has promised to expedite load-shedding’s finale. This is as the social compact to fix Eskom has seemingly stalled. (Photo by TADEU ANDRE / AFP)

Eskom compact: The plan to end the energy crisis has ‘dragged on’

After 14 years of blackouts, the president has promised to expedite load-shedding’s finale

Teacher: Cornelius Sebothoma says being able to access funds from his pension would be a great help. (Lucas Ledwaba/Mukurukuru Media)

Teacher begs treasury to rethink excluding public servants from pension withdrawals

Cosatu pushes back against ‘treasury bureaucracy’ for not allowing civil servants emergency access to their retirement funds as a form of Covid-19 relief

Harith General Partners, one half of the consortium that will take over SAA, has come under scrutiny since the announcement of the national carrier’s new majority shareholder.

SAA: PIC allegations are Harith’s albatross

Sipho Makhubela assures that the private equity firm has what it takes to raise the capital to get SAA flying again

Stop gap: Martin Kingston of Business for South Africa, backs the effective but safe use of retirement funds and savings. (Paul Botes/M&G)

All agree: Use pension funds

The state wants to increase spending on infrastructure to drive economic recovery, and South Africans’ savings could help foot the bill

Former PIC chief executive Dan Matjila. (David Harrison/M&G)

PIC commission – Matjila acted improperly in Ayo deal

The report by the commission that investigated the Public Investment Corporation says the fund manager’s former CEO lied about his involvement in its R4,3-billion investment in…

Balancing act: Finance Minister Tito Mboweni (centre) (Dwayne Senior/Bloomberg/Getty Images)

Mboweni faces taxing decisions

The finance minister must tread a tightrope to fix the economy as he prepares for next week’s budget speech

Still living large: Former Steinhoff chief executive Markus Jooste, who lives in a luxury home in Hermanus was in charge when the scandal happened. (Edrea du Toit/Rapport/Gallo Images)

Steinhoff relies on legal ‘fig leaf’

Journalists’ court case challenges corporates that hide behind legal ‘professional’ privilege’

The investment saw PIC take a 25% stake in the Independent Media group.

GEPF was ‘uncomfortable’ with PIC’s Indy Media investment

Concerns raised by GEPF on investment in Independent Media were overlooked by the PIC

The PIC stepping in to help Edcon stay afloat will stabilise the broader clothing industry, some investment experts argue. (Oupa Nkosi/M&G)

Edcon: Experts split on PIC lifeline

Should the giant be left to sink or should it be helped to stay afloat in South Africa’s retail storm